It has me stumped. $6.3m cash at bank as at 31/3/2024, low historical cash burn. ARC deal costing SOR $800k in cash over 4 years, drilling of Cyclops and Leviathan would be under $1m. Ie, not a lot of high cash burn possibilities with their announced projects.
Perhaps the recent hints about Cognition Engines is a clue and they are looking to purchase something for that venture to progress.
Ann: Trading Halt, page-10
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